Ukrainian Village Apartments Fetch Nearly 50% Increase on Sellers’ Purchase Price
Interra Realty brokered the $2.5-million sale of 906-908 N. Damen Ave., a pair of six-unit multifamily properties in the Ukrainian Village neighborhood on Chicago’s Near West Side. The per-unit price was $208,333.
Brad Feldman, senior managing partner, represented the seller, a local real estate partnership. Feldman also represented the group when it bought the properties in 2017 for $1.7 million. Director Jeremy Morton represented the local buyer, which plans to increase electric capacity and make minor upgrades to units, hallways and the building facade.
“Ukrainian Village is close to downtown yet offers more attainable pricing for renters, even as overall city rents climb,” said Feldman. “This deal represented a solid price for the seller, which was able to realize a nearly 50% increase in value, while offering the buyer further appreciation potential through minimal renovations. We continue to see strong appetite from buyers for this kind of well-located, value-add opportunity.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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